Trafigura’s award increases to $700 million following a court win over Prateek Gupta.
Trafigura’s Legal Battle with Prateek Gupta Intensifies The payout to Trafigura in its prominent fraud case against tycoon Prateek Gupta has surged by nearly 50%, now totaling $700 million. On Thursday, the Indian businessman was denied permission to appeal a London High Court ruling from last month, which stated that Trafigura had been “the victim […]
Trafigura secures $500 million in nickel fraud lawsuit against Prateek Gupta
Trafigura Secures Legal Win Against Prateek Gupta After a lengthy series of legal disputes, Trafigura has achieved a significant legal victory. A judge held businessman Prateek Gupta accountable for a fraudulent nickel cargo scheme, ordering the Swiss trading firm to receive $500 million in damages. The judgment from the London High Court stated, “Trafigura was […]
Trafigura’s leading trader devised a counterfeit nickel plan, Prateek Gupta informs the court.
Indian businessman Prateek Gupta appeared in court, alleging that a former top nickel trader at Trafigura was involved in a scheme to ship large quantities of fake nickel. During his testimony via video link from Dubai on Wednesday, Mr. Gupta stated that in 2019, Socrates Economou proposed a plan that included transporting what was purported […]